Ontario · Receivership (court-appointed)
Motion Record of Richter Advisory Group Inc. (Re: Summary Judgment, Interim Distribution and Fee Approval) (returnable December 1, 2016) – dated November 25, 2016
Application / notice of application · 25 November 2016
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing2 verified
- fee scheduleengagements: form: prose · rows: · money: approximate: false · period: kind: unstated · label: the Period · quote: The average hourly rate billed by the Receiver during the Period is $405.19. · approval: state: unstated · averages: rate: 405.19 · quote: The average hourly rate billed by the Receiver during the Period is $405.19. · currency: · invoices: · firm text: Richter Advisory Group Inc. · firm quote: MOTION RECORD OF RICHTER ADVISORY GROUP INC., IN ITS CAPACITY AS THE COURT-APPOINTED RECEIVER · context quote: IN ITS CAPACITY AS THE COURT-APPOINTED RECEIVER; form: time_summary · rows: · money: approximate: false · period: end: 2016-10-31 · kind: invoice · quote: in respect of services rendered to the Receiver for the period from July 8, 2016 through October 31, 2016 · start: 2016-07-08 · approval: state: unstated · averages: · currency: · invoices: · firm text: Fasken · firm quote: true copies of the Statements of Account of Fasken, redacted for privilege · hours total: quote: 366.60 hours were incurred by Fasken, for the period from July 8, 2016 through October 31, 2016 · value: 366.6 · context quote: in respect of services rendered to the Receiver for the period from July 8, 2016 through October 31, 2016
- recovery outcomeentries: basis: unstated · quote: Authorizing and directing the Receiver to make an interim distribution in the amount of $400,000 USD and $4,300,000 to Salus Capital Partners, LLC as lender and agent for other lenders ("Salus" or the "Lender") in respect of its secured claim against the Property; · pct of: unstated · outcome: distribution · currency: USD · class key: secured · stated by: receiver · amount low: 400000 · amount high: 400000 · class label: Salus Capital Partners, LLC as lender and agent for other lenders · creditor name: Salus Capital Partners, LLC · interim final: interim · currency quote: $400,000 USD · claims qualifier: unstated; basis: unstated · quote: 42. The Receiver proposes to make an interim distribution of the net proceeds of realization to Salus in the amount of $4,300,000. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 4300000 · amount high: 4300000 · class label: Salus (the Lender) · creditor name: Salus · interim final: interim · claims qualifier: unstated; basis: unstated · quote: As per the terms of the Distribution and Auction Order, the Receiver made a $7,100,000 interim distribution to Salus; · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 7100000 · amount high: 7100000 · class label: Salus · creditor name: Salus · interim final: interim · claims qualifier: unstated; basis: estimated · quote: The Receiver proposes to make an interim distribution of the net proceeds of realization to the Lender In the amount of $7.1 million, should the Sundry Assets Transactions be approved by the Court. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 7100000 · amount high: 7100000 · class label: the Lender · creditor name: Salus · interim final: interim · conditional on: should the Sundry Assets Transactions be approved by the Court; if not approved, the interim distribution proposed will be limited to $2.8 million · claims qualifier: unstated · stated on: 2016-11-25 · table missing: